Introduction of the term Internal Audit
Give a brief introduction of the term Internal Audit and also write down the Role of Internal Audit?
Expert
The internal audit is a constant review of records and operations undertakes in the business and is normally completed by specially assigned employees. It must operate independently of all the internal check and in no case must strip any one of the responsibilities placed upon him. Internal auditing is an independent review activity in an organization for the appraisal of operations as a service to management. It is managerial control that functions by evaluating and measuring the efficiency of other controls.
To accomplish its aims the auditor has to appraisal the subsequent areas:
i) Integrity and Reliability of the information.
ii) Fulfillment with the policies, procedures, plans, laws and regulations.
iii) Protection of assets.
iv) Efficient and Economical employ of resources.
v) Achievement of established aims and objectives for operations or programs.
Marketing audit for goods and service industry: This basic concept of marketing audit applies to both material goods and service industry. The marketing audit is a powerful tool with banking industry throughout world. Banking world to
Write down the different merits and demerits of internal audit?
A subgroup of the board of directors composed of directors who are independent of an organization and not employed by organization. The committee acts on behalf of the full board and all stockholders to check on management actions and it has responsibility for the soundness of the
Internal Controls: Internal control includes the plan of organization and all of the coordinate techniques adopted within a business to defend its assets, ensure the accuracy and consistency of its accounting data, encourage operational efficiency, an
Elucidate the differentiation between External Audit and Internal Audit?
Write down the importance of internal audit to the organization?
Marketing audit for banking industry will be developed based upon following features: A) It will help and support the top management in identification and management of risks. B) It will help in evaluating th
What is the liability of Internal Audit Charter?
How can scope of internal audit aid you?
Distinguish between Operating versus Non-Operating Revenue?
18,76,764
1927925 Asked
3,689
Active Tutors
1414252
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!